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Globalfoundries has named former Cypress Semiconductor executive Jim Kupec to its top marketing position, as the newly established company begins to assemble its executive team.

Globalfoundries is the chip manufacturing company recently formed by a joint venture between Advanced Micro Devices and Advanced Technology Investment Company (ATIC).

Kupec spent 15 years with Cypress Semiconductor, rising through a variety of engineering, operations, and management positions to the role of senior vice president, according to a statement from Globalfoundries.

After leaving Cypress, Kupec became president of United Microelectronics Co. (UMC) USA. Taiwan-based UMC is one of the largest contract chip manufacturers in … Read more

In the wake of the latest kerfuffle between Advanced Micro Devices and Intel, AMD's chief counsel seized the moment to sound off on a primal fear at his company: Intel is bent on its destruction. Intel, of course, doesn't quite see it that way.

After Intel accused AMD on Monday of breaching a 2001 patent cross-license agreement with Intel, AMD's top lawyer had some choice words for its bigger rival.

In a phone interview Tuesday, AMD general counsel Harry Wolin refuted Intel's claim that the AMD manufacturing spin-off Globalfoundries is not a subsidiary--and thus cannot legally … Read more

Advanced Micro Devices has appointed a new chairman to replace former CEO and Chairman Hector Ruiz, as it closes the deal to spin off its manufacturing operations.

AMD on Monday announced that Bruce Claflin has been appointed chairman of its board of directors. Claflin replaces Ruiz, who retired from AMD's board. Ruiz is now chairman of the board of The Foundry Company--the chip manufacturing concern that was spun off officially on Monday.

Claflin--who has been a member of AMD's board of directors since August 2003--has held senior positions with IBM and Digital Equipment and most recently was CEO … Read more

Advanced Micro Devices' manufacturing spinoff got an all-clear from the U.S. government on Tuesday.

The Committee on Foreign Investment in the United States (CFIUS), part of the U.S. Treasury Department, gave the green light to AMD and the Advanced Technology Investment Company (ATIC) to create The Foundry Company, the manufacturing operations that AMD spun off back in October.

CFIUS has also determined that "the proposed additional investment in AMD by Mubadala is not a covered transaction subject to CFIUS review," according to AMD.

ATIC will own 65.8 percent of The Foundry Company and AMD 34.… Read more

Advanced Micro Devices said Monday that it will incur $70 million in restructuring costs in the fourth quarter, according to a filing with the Securities and Exchange Commission.

The filing also cited fourth-quarter layoffs of 600 employees. An AMD spokesperson said that approximately 500 layoffs were announced in November, but that the company "ended up closer to 600."

The restructuring dollar figure is new, AMD said. The company now estimates that the "restructuring expense that it will record in the fourth quarter of fiscal 2008 will be approximately $70 million, based on the restructuring plan approved by … Read more

Advanced Micro Devices will reduce its stake in the manufacturing operations it spun off in October, as it adjusts to repercussions of the financial crisis.

This follows a fourth-quarter warning earlier this month when the chipmaker revised its revenue estimate downward.

And like the shares of many companies, AMD's stock price has been in a free fall. Dropping from over $7 back in June to $2.10 on Monday.

Monday's action revolves around Abu Dhabi-based Mubadala Development and the Advanced Technology Investment Company (ATIC)--which Mubadala backs.

ATIC has equal voting rights with AMD in the newly formed … Read more

Advanced Micro Devices talked more about options for reducing its participation in a new manufacturing venture during its third-quarter earnings call on Thursday. The chipmaker also offered more details on conversion to 45-nanometer processors.

Earlier this month, AMD announced that it was splitting into two companies: one for designing chips (AMD), the other for manufacturing them (The Foundry Company). The latter company will be owned approximately 56 percent by Advanced Technology Investment Co. (ATIC) and 44 percent by AMD.

During the conference call, AMD Chief Financial Officer Bob Rivet responded to a question from an analyst about an "exit … Read more

Advanced Micro Devices reported a much smaller loss for the third quarter and better-than-expected revenue.

The Sunnyvale, Calif.-based chipmaker reported third-quarter 2008 revenue of $1.776 billion, including process technology license revenue of $191 million.

Revenue increased 32 percent compared to the second quarter of 2008 and 14 percent compared to the third quarter of 2007.

A positive surprise is the net loss, which was significantly smaller than expected. The company reported a net loss of $67 million, or 11 cents per share. Analysts polled by Thomson Reuters had expected a third-quarter loss of 40 cents per share on $… Read more

Update on October 9 at 9:00 a.m. with additional comments from Intel and AMD.

Advanced Micro Device's new manufacturing venture may come with some old baggage.

After AMD announced on Tuesday that it would spin off its manufacturing assets to a new company partially owned by the Abu Dhabi government, Intel was quick to warn AMD about patent and cross-licensing concerns.

AMD will own part of the new manufacturing entity, for the time being to be called The Foundry Company, while Advanced Technology Investment Co. (ATIC) will own the rest (55.6 percent) and have equal voting … Read more